Market often gives the second chance so we have that case with Nasdaq 100 now. Index was turbo-shortsqueezed and returned to its highs. At the same time all popular comoanies reported bad or very bad (NFLX,AMZN,FB,TWTR etc). Yes the index is outweighted by AAPL, where businness still going for strong but its more an exception. Many blue chips have reported badly — Cocal Cola, IBM, McDonalds etc. In average we see growth in reports pumped mostly by buybacks but for a long term these buybacks at these prices will be value destructive.
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TB11741
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feels right to me...lotta supply and no demand at these levels....will need one more flush out to question santa rally and then look for resumption of the uptrend